“Of the number proceeding on retirement [b]one each are in the rank of General Manager and Deputy General Manager and an Assistant General Manager whil[/b]e others are of various categories In carrying out the retirement, the bank worked in co-operation with all the stakeholders including the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) to ensure industrial harmony,” it added.

doofanc: you guys would do well to read properly before commenting. The article said retirement[b][/b], not sack or lay-off. These are people are have been in the system for quite some time; for some eg the GM, it could be over two decades.. If after all these time they've not planned for their retirement, then it unfortunate.

ypzilanti: Hope they paid them benefits. This is the side effects of capitalism, but in better countries they make sure the severed staff are paid benefits except the company is going bankrupt.

badboy: I'm wondering why this bank will call up an entry-level staff working in Port Harcourt on a Sunday to resume in Benin next day, that she has been transferred.......happened to my sibling's fiancee. She cried her eyes out throughout Sunday...very sad.

DANILSA: By the time dis banks finish only God knows how many people will still remain there. Forget the language they use its all the same. Have they stayed 35 years in the system? God help all. My uncle now has bp cus of fear.

Nigeria Unity Bank H1 pre-tax profit rises 63 pct
Mon Jul 23, 2012 3:05pm GMT Print | Single Page [-] Text [+]
LAGOS, July 23 (Reuters) - Nigeria's Unity Bank said on Monday its pre-tax profit for the first half of the year rose 63.61 percent to 3.53 billion naira ($21.84 million), compared with 2.15 billion naira in the same period last year.

Unity Bank's gross first half earnings jumped to 25.93 billion naira, from 20.99 billion last year, the bank said in a filing with Nigerian Stock Exchange. Unity shares were flat at 0.50 naira per share on Monday.

($1 = 161.65 naira) (Reporting by Oludare Mayowa; Editing by Joe Brock)

engineerd: Its crazy! The global economy is getting worse by the day where layoffs is becoming the order of the day! CISCO is planning to layoff 1300 employees in the US also, after they cut around 10,000 jobs last year.

acidtalk:


Mr Grammarian.

They can retire a man who is just 2days old on a job.
Every entity is free to use whatever language that best suit it in laying off its staff, either retrnchment, layoff, disengaged, sack, or downsizing.

The bottom line is they tossed some people off their pay list and requested they drop their I.D card and other company property in their possession.

Wake up dude.
Don't believe in all those words you read in your Economics, Business Studies and Law books. They no longer apply in the rugged and wicked world of today.

It is all about Survival of the fittest.
Either your boss sacks you or you sack him, one day one day sha, na one go sack the other.

engineerd: Its crazy! The global economy is getting worse by the day where layoffs is becoming the order of the day! CISCO is planning to layoff 1300 employees in the US also, after they cut around 10,000 jobs last year.

globaljobs: Retirement is one of the realities of life.

That is why the best way to earn money is to join a business where members make money through collaboration and teamwork.

That kind of synergy results in ever growing income and you will never again be afraid of retirement, redundancy, re-structuring, or any other language used to tell you that you're out of a job.

oche419: This will certainly create room for the thousands of graduates out there in the labour market. It was FirstBank last month and now it is Unity Bank. These old skool banks are getting rid of 'old cargoes' that refuse to adequately develop themselves over the past years. How can you work for nearly 30 years without at least acquiring a HND?
If they have worked for years without developing themselves in terms of educational qualifications, then they should set up a businesses with their terminal benefits in order to survive. The yardstick used for this retirement/retrenchment is lack/inadequate self development and non performance on the job.

globaljobs: Retirement is one of the realities of life.

That is why the best way to earn money is to join a business where members make money through collaboration and teamwork.

That kind of synergy results in ever growing income and you will never again be afraid of retirement, redundancy, re-structuring, or any other language used to tell you that you're out of a job.

Welder:

What nonsense are you spewing from your mouth. Listen dude, dont come on here and say crap about old cargoes and the affected staff not developing themselves, thats bull...and totally false. Get your facts right and stop talking trash.

Like someone mentioned, its all out war, supervisors are recommending this people for sack/retirment or whatever jargon they label it with. Its really sad because majority of this people[b] been axed bled the best part of their lives for this banks.[/b] Anyways... we all need to look internally and create other avenues for revenue generation... My 2kobo